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Consumers are increasingly aware just how much personal data they’re sharing with marketers. Whether browsing online or shopping in a store with a loyalty card, consumers reveal a lot of themselves every time they interact with a brand.
In a recent Communispace study (PDF), 86% of consumers would click a “Do Not Track” button if one existed and 30% would pay a 5% premium for a guarantee that their personal data would not be captured.
Yet 52% of consumers would share their personal data with marketers for discounts, with younger consumers more comfortable sharing personal data. A majority of Millennials and Gen X-ers would share data for discounts, while a majority of Boomers and Silents would not....
It will be interesting to watch how different brands navigate the tradeoffs of consumer privacy with personalization and relevance.